Baldwin Wealth Partners LLC MA Raises Holdings in Garmin Ltd. (NYSE:GRMN)

Baldwin Wealth Partners LLC MA increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,662 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,568 shares during the quarter. Garmin makes up approximately 1.2% of Baldwin Wealth Partners LLC MA’s holdings, making the stock its 25th biggest holding. Baldwin Wealth Partners LLC MA’s holdings in Garmin were worth $17,256,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Garmin by 64.6% in the 4th quarter. Blue Trust Inc. now owns 2,171 shares of the scientific and technical instruments company’s stock valued at $448,000 after purchasing an additional 852 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. purchased a new stake in Garmin during the 4th quarter worth $209,000. Geneos Wealth Management Inc. increased its stake in Garmin by 1.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock worth $591,000 after buying an additional 49 shares during the period. CX Institutional increased its stake in Garmin by 42.1% during the 4th quarter. CX Institutional now owns 1,824 shares of the scientific and technical instruments company’s stock worth $376,000 after buying an additional 540 shares during the period. Finally, Brighton Jones LLC increased its stake in Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after buying an additional 463 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Trading Up 0.2 %

Shares of NYSE:GRMN opened at $214.64 on Monday. The company has a 50 day moving average of $211.85 and a 200-day moving average of $189.38. The firm has a market cap of $41.22 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.31 and a beta of 0.98. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm earned $1.41 EPS. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. Equities research analysts forecast that Garmin Ltd. will post 7.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GRMN. Tigress Financial lifted their price target on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Barclays boosted their price objective on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Finally, Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $171.00.

Insider Activity

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is owned by company insiders.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.